Europe Veterinary MRI Market Size, Share, and COVID-19 Impact Analysis, By Solutions (MRI Scanner, Software & Services, and Accessories/ Consumables), By Type (Small and Large), and Europe Veterinary MRI Market Insights, Industry Trend, Forecasts to 2033

Europe Veterinary MRI Market Insights Forecasts to 2033

• The Europe Veterinary MRI Market is growing at a CAGR of 7.4% from 2023 to 2033
• The Europe Veterinary MRI Market Size is Expected to Hold a Significant Share by 2033

The Europe Veterinary MRI Market is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 7.4% from 2023 to 2033.

Market Overview

The Europe veterinary MRI market involves the use of magnetic resonance imaging (MRI) technology for diagnosing and evaluating medical conditions in animals, particularly in companion animals like dogs and cats, as well as livestock. Veterinary MRI is crucial for detecting neurological, musculoskeletal, and soft tissue disorders, providing detailed and non-invasive imaging to support veterinary diagnoses. With advancements in MRI technology, such as higher resolution imaging and faster scanning times, the market is experiencing growth. The increasing prevalence of chronic and neurological diseases in animals is a major driver of the veterinary MRI market in Europe. The growing demand for accurate and non-invasive diagnostic tools to improve veterinary care is fueling the adoption of MRI technology. Additionally, rising pet ownership and the humanization of pets contribute to increased spending on advanced veterinary diagnostics. The growing number of veterinary clinics and hospitals offering specialized imaging services also supports market growth. Furthermore, technological advancements, including portable and smaller MRI machines, are making MRI technology more accessible and cost-effective. Government bodies in Europe, such as the European Medicines Agency (EMA) and various national health organizations, encourage the adoption of advanced diagnostic technologies through funding, regulatory frameworks, and research. Supportive policies aimed at enhancing animal healthcare standards and the increasing focus on animal welfare contribute to the growth of the veterinary MRI market.

Report Coverage

This research report categorizes the market for the Europe veterinary MRI market based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe veterinary MRI market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe veterinary MRI market.

Driving Factors

The Europe veterinary MRI market is driven by the rising prevalence of neurological, musculoskeletal, and soft tissue disorders in animals, creating a demand for advanced diagnostic tools. The increasing humanization of pets and growing pet ownership lead to higher spending on veterinary healthcare. The need for accurate, non-invasive diagnostic methods further supports the adoption of MRI technology. Additionally, the expansion of specialized veterinary clinics and hospitals offering imaging services drives market growth. Technological advancements, such as portable MRI machines and enhanced resolution capabilities, make MRI more accessible, efficient, and cost-effective, encouraging broader use in veterinary practices.

Restraining Factors

The Europe veterinary MRI market faces challenges such as high equipment costs, limited availability of trained professionals, and the need for substantial space in veterinary clinics. Additionally, long scanning times and the complexity of MRI procedures may hinder widespread adoption.

Market Segmentation

The Europe veterinary MRI market share is classified into solutions and types.

• The MRI scanners segment is expected to hold the largest market share through the forecast period.   

The Europe veterinary MRI market is segmented by solutions into MRI scanners, software & services, and accessories/ consumables. Among these, the MRI scanners segment is expected to hold the largest market share through the forecast period. The demand for advanced, high-resolution MRI scanners in veterinary practices is driven by the need for accurate and detailed diagnostics. As veterinary clinics and hospitals expand their diagnostic capabilities, investing in MRI scanners remains a priority.

• The small segment dominates the market with the largest market share over the predicted period.

The Europe veterinary MRI market is segmented by type into small and large. Among these, the small segment dominates the market with the largest market share over the predicted period. The increasing pet ownership, particularly of dogs and cats, drives the demand for advanced diagnostic tools for small animals. The growing prevalence of neurological and musculoskeletal conditions in companion animals further fuels the adoption of MRI technology. Veterinary practices are increasingly investing in MRI scanners specifically designed for small animals, supporting the dominance of this segment

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe veterinary MRI market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Esaote SPA
• General Electric Company
• Siemens
• Hallmarq Veterinary Imaging
• Shenzhen Anke High-tech Co., Ltd.
• Time Medical Holding
• IDEXX Laboratories, Inc.
• Shenzhen Basda Medical Apparatus Co., Ltd
• Willows Veterinary Centre and Referral Service
• North West Radiology
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-added resellers (VARs)

Market Segment

This study forecasts revenue at Europe, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Europe veterinary MRI market based on the below-mentioned segments:

Europe Veterinary MRI Market, By Solutions

• MRI Scanner
• Software & Services
• Accessories/ Consumables

Europe Veterinary MRI Market, By Type

• Small
• Large